TORONTO, ONTARIO--(MARKET WIRE)--Sep 16, 2008 -- RioCan Real Estate Investment Trust ("RioCan") (Toronto:REI-UN.TO - News) today announced a distribution of 11.5 cents per unit for the month of September. The distribution will be payable on October 7, 2008 to unitholders of record as at September 30, 2008. As announced on September 3, 2008, this distribution reflects an increase from previous months' distributions of 11.25 cents per unit.

About RioCan

RioCan is Canada's largest real estate investment trust with a total capitalization of approximately $7.9 billion. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 240 retail properties, including 14 under development, containing an aggregate of almost 59 million square feet. For further information, please refer to RioCan's website at www.riocan.com.

     Contacts:
     RioCan Real Estate Investment Trust
     Rags Davloor
     Senior Vice President & CFO
     (416) 642-3554
     Website: http://www.riocan.com